Purpose: Get a strong understanding of the market (with a focus on condos) and find opportunities.

General Overview

As can be observed from the above graphs, ever since 2023, the MDR markets for condos and SFRs have been slowing down. However, since the beginning of 2025, both condos and SFR sales have been slowly picking up. Overall, the last 5 years saw a stagnation in MDR.

The median price for SFR in MDR is around $1,700,000, while condos are closer to $1,400,000. From the above bar chart we can see that there is a significant jump in prices between 1 bedroom condos and 2 bedroom condos, almost double.

Market Overview - Pricing & Analysis

Above we can see the $/sqft graph, again illustrating the 5 year stagnation. as of August 2025, condos in MDR have a median price-per-sqft of $800, while SFRs go for a median of $1,050/sqft.

Demand and Activity

From the above two charts we can see that the entire market has been slowing down in the last 3 years, both in volume and count.

New/Closed ratio is helpful for understanding power in the market. The higher the ratio, the more power buyers have. In this case, the ratio is increasing every year, signifying an increasing buyer’s market.

Likewise, the increasing days-on-market also serves as additional evidence that buyers are more reluctant to buy, signifying strong buyer power.

Map: condo price pin map

The above map shows condo sale in the last 2 year by price point and location. Many of the larger locations come from 5 specific buildings.

The above two maps show that MDR is really split between the marina surrounding condo sales, and the inland SFR dominated market.

The heatmap shows locations with quick sale activity for condos.

Rental Market Overview

Median lease prices in MDR have also been stagnating a bit. While they continuously rise, they do so at a declining rate, almost flattening at around $5,600 in July 2025.

The above 2 charts show the median lease price for various unit sizes, for condos and SFRs. The jump in prices at the highest bedroom count can be partly attributed to the low quantity of such units, rather than size.

The above two graphs are ratio signals of the rental market from an owner’s perspective. The higher a price/rent ratio is, the higher the price of a property relative to lease price. While the price/rent ratio of SFRs in MDR are rising, meaning prices are increasing faster than rents, the ratio for condos is rather flat.

Vacancy rate, signaling how easy it is to find tenants, has been rising until 2021, and started slowly decreasing, meaning tenants are becoming more interested in moving to MDR.

Market Composition and Demographics

Age wise, the population of MDR has changed a lot in the last decade. It shifted from having a large retiree population in 2013, to a community of families, with the majority of residents in their 30s-40s, and a rising young population (signalling families).

Income wise, MDR has been spiking ever since 2016. The median household income in MDR in 2023 was a little over $1.4m, compared to $87,000 in LA county. Overall, a high income population.

The above graph shows the share of housing units that are rented vs owner-occupied. The vast majority of unit in MDR are rented, with a very small percentage being owner occupier. ]

The second graph shows the age of owner-occupiers specifically. The vast majority of them being between 35-44, and a large portion in retirement age.

Development, Construction, and Permits

The above 3 graphs show show permit data from the last year. We can see most permits we residential, and many were finaled. Very interestingly, a lot of demolition permits were finaled, and a lot of new construction permits were issued, all around the same time and with similar numbers. This indicates a strong developer confidence in the market.

Large Projects

Upcoming:

  1. Mercy Housing — 4206 Admiralty Way

Plans approved for Marina del Rey’s first 100% affordable housing development: a seven-story building with 120 apartments, 2,250 sq ft retail, and a 9,000 sq ft community garden.

  1. Paseo Marina Mixed-Use Project

  2. A major mixed-use plan in City territory (adjacent to MDR) is under environmental review:

    Option A: ~658 residential units + 27,300 sq ft retail/restaurant.

    Option B: ~425 units + 90,000 sq ft office + 40,000 sq ft commercial + 1-acre public space.

Completed Projects

Several notable developments have finished in recent years:

  1. Wayfarer Apartments (Parcel 28) – Completed November 2019

  2. Neptune Marina Apartments (Parcels 10/14) – Completed June 2020

  3. Boardwalk Marina del Rey / Pier 44 – Completed December 2020

  4. Marriott Hotel (Residence Inn + Courtyard) (Parcel 9U) – Completed August 2021

  5. Venice Dual Force Main sewer project – Completed December 2020

Activity and Market Leaders

Top Buildings
No. Baseaddress Salescount
1 13700 marina pointe dr 37
2 13600 marina pointe dr 14
3 4265 marina city dr 14
4 13650 marina pointe dr 13
5 4060 glencoe ave 13
6 4080 glencoe ave 12
7 4215 glencoe ave 11
8 4337 marina city dr 11
9 4316 marina city dr 10
10 4140 glencoe ave 9
11 4267 marina city dr 8
12 5000 s centinela ave 7
13 4314 marina city dr 6
14 4335 marina city dr 6
15 310 tahiti way 5
16 4115 glencoe ave 5
17 5100 via dolce 5
18 1 northstar st 4
19 13080 mindanao way 4
20 13082 mindanao way 4
21 13222 admiral ave 4
22 13236 fiji way 4
23 13326 beach ave 4
24 311 bora bora way 4
25 3111 via dolce 4
Top Buildings Lease
No. City Clean Address Clean Leasecount
1 marina del rey 13700 marina pointe dr 54
2 marina del rey 13600 marina pointe dr 14
3 marina del rey 13650 marina pointe dr 12
4 marina del rey 4316 marina city dr 11
5 marina del rey 13337 beach ave 7
6 marina del rey 4080 glencoe ave 7
7 marina del rey 306 bora bora way 6
8 marina del rey 4267 marina city dr 6
9 marina del rey 13900 panay way 5
10 marina del rey 310 washington blvd 5
11 marina del rey 3111 via dolce 5
12 marina del rey 4050 glencoe ave 5
13 marina del rey 4140 glencoe ave 5
14 marina del rey 4335 marina city dr 5
15 los angeles 11800 courtleigh dr 4
16 los angeles 4044 redwood ave 4
17 marina del rey 122 buccaneer st 4
18 marina del rey 13326 beach ave 4
19 marina del rey 18 union jack st 4
20 marina del rey 4141 glencoe ave 4
21 marina del rey 4215 glencoe ave 4
22 marina del rey 4265 marina city dr 4
23 marina del rey 6 voyage st 4
24 los angeles 4365 mclaughlin ave 3
25 marina del rey 1 driftwood st 3

The above two tables show the top 15 addresses (without unit number) for sales and leases. These range from large to midsize buildings.

## ### Top 10 Seller Agents
No. Name Count
1 Jesse Weinberg 26
2 Charles Lederman 15
3 Natasha Lederman 15
4 Blake Taylor 14
5 Christopher O'Brien 13
6 Panos Papadopoulos 13
7 Rick Dergan 13
8 Deniz Alpada 11
9 Jennifer Portnoy 10
10 Bob Herrera 9
11 Cheryl Herrera 8
12 Debra Berman 8
13 Eileen Mccarthy 8
14 Patricia Kandel 8
15 Alessandra Castrogiovanni 7
Top 10 Seller Brokerages
No. Name Count
1 Compass 27
2 Jesse Weinberg 26
3 Estate Properties 17
4 Charles Lederman & Associates 15
5 Pardee Properties 15
6 Coldwell Banker Realty 13
7 LPT Realty, Inc 13
8 Professional Real Estate Servi 9
9 Sotheby's International Realty 9
10 Eileen McCarthy R.E. Inc 8
11 The Agency 8
12 Berkshire Hathaway HomeServices California Properties 7
13 Keller Williams Los Angeles 6
14 Rodeo Realty 5
15 eXp Realty of California Inc 5

Leading Agents:

The above two tables show the leading seller’s agents and brokerages.

While Jesse Weinberg has a strong presence, the market is definitely diversified and competitive. Interestingly, While the agent Jesse Weinberg has lot of sales, Compass is the leader as a firm.

Top 10 Buyer Agents
No. Name Count
1 Jesse Weinberg 19
2 Blake Taylor 12
3 Jennifer Portnoy 9
4 Charles Lederman 7
5 Natasha Lederman 7
6 Christopher O'Brien 5
7 Ryan Sokolowski 5
8 Panos Papadopoulos 4
9 Bob Herrera 3
10 Deniz Alpada 3
11 Eileen Mccarthy 3
12 Stephanie Younger 3
13 Tamra (Tami) Pardee 3
14 William Durfee 3
15 Alicia Rivett 2
Top 10 Buyer Brokerages
No. Name Count
1 Compass 34
2 Jesse Weinberg 19
3 Coldwell Banker Realty 14
4 Estate Properties 12
5 Berkshire Hathaway HomeServices California Properties 11
6 eXp Realty of California Inc 10
7 KW Advisors 9
8 Charles Lederman & Associates 8
9 The Agency 8
10 Keller Williams Beverly Hills 7
11 Sotheby's International Realty 7
12 Pardee Properties 6
13 Vista Sotheby s International Realty 6
14 Christie's International Real Estate SoCal 5
15 Douglas Elliman 5

The above tables show the top buyer’s agents and brokerages. Overall, we see a similar picture to the seller overview, with some variations.

Conclusions:

While the last 2 years the MDR market for condos and SFRs saw a slowdown, it seems to be picking up slowly. Condos with 2 bedrooms and more are in high demand and prices reflect that.

The market for both Condos and SFRs, as is much of LA, is currently a buyer’s market, and properties are taking longer to sell. In addition, the overall volume has been lower that 2021. Another supporting evidence for the buyer’s market hypothesis is the high new/clsoed, ratio, indicating more properties are listed than sold.

Most condos are concentrated around the marina, and range widely in prices. MDR is practially split in two by Lincoln Blvd, with hot areas being around the marina, and between Washington blvd, Culver Blvd, and Lincoln Blvd. West of Lincoln is dominated by condos, whereas east of Lincoln has a lot more houses.

The rental market in MDR has been fairly steady, with lease prices of houses rising a bit faster than condo lease prices. Vacancy has spiked in the last 5 years, but is decreasing now. The vast majority of MDR residents are renters.

The population of MDR is often thought of as older, but in reality it is getting younger, and more family oriented, with the vast majority of owner-occupier being between the ages of 35-44. However, a large portion of owner occupiers are between 55-85. The average resident of MDR earns almost double the average resident in LA county.

The last few years saw a spike in demolition permits finalized, and new construction permits issued. This is a strong indication that developers are interested and confident in the MDR real estate market.

The condo sale market is dominated by a few buildings, and while the lease market is similar, it is more diversified.

Competition wise, the market has strong players but they are not dominating. There is quite a diverse array of agents buyer and selling.

Proposed Strategy: Our sellers should be older people, ready to downsize or move out, and our buyers are family age parents, with a high income, between the ages of 35-44. We might want to choose specific large buildings and advertise repeatedly there, and find smaller buildings with less movement and contact the manager, board members of HOAs, or anyone else that we could offer referral fees to enter the market.